Global Silicon Carbide Market Outlook, Opportunities And Strategies
Learn about the global silicon carbide market through The Business Research Company, which provides information on silicon carbide market size, silicon carbide market drivers and restraints, silicon carbide market players, the COVID-19 impact on the silicon carbide market, and more.
The global silicon carbide market size is expected to grow from $1.62 billion in 2021 to $1.93 billion in 2022 at a compound annual growth rate (CAGR) of 19.6%. The growth in the silicon carbide market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The silicon carbide market is expected to reach $3.45 billion in 2026 at a CAGR of 15.6%.
Emerging demand for electric vehicles is significantly driving the growth of the silicon carbide market.
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The silicon carbide market consists of sales of silicon carbide products by entities (organizations, sole traders, and partnerships) that are hard and insoluble substances used as an abrasive and electrical resistors in high-temperature devices. Silicon carbide is a crystalline chemical compound of silicon and carbon produced synthetically in the form of SiC powder. It is suitable for high power applications as it offers extreme chemical inertness, hardness, relatively low thermal expansion, high thermal conductivity, resistance to corrosion, and high force-to-weight radius.
Global Silicon Carbide Market Segments Include:
By Product: Black Silicon Carbide, Green Silicon Carbide
By Device Type: SiC Discrete Device, SiC Bare Die
By Application: Steel, Automotive, Aerospace, Military and Defense, Electrical and Electronics, Healthcare, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global silicon carbide market in 2021.
Strategic partnerships and collaborations are shaping the silicon carbide market. Key players operating in the silicon carbide market are focusing on partnership and collaborations to improve efficiency, costs savings, expand value propositions, and extend their growth in new areas to be a leader in the industry.
TBRC’s silicon carbide market report covers:
Major Market Players: Infineon Technologies, Wolfspeed Inc, Rohm, ESK-SiC GmbH, ESD-SIC BV, Grindwell Norton Ltd., Entegris Inc., Saint Gobain Ceramic Materials GmbH, AGSCO Corporation, Carborundum Universal Limited, The Dow Chemical Company, Fuji Electric Co. Ltd., General Electric Company, Microchip Technology Incorporated, Snam Abrasives Pvt. Ltd., and STMicroelectronics.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Silicon Carbide Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides silicon carbide market overviews, analyses and forecasts market size, share, silicon carbide market players, silicon carbide market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s silicon carbide market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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